Washtenaw Financial Stability Coalition

Welcome!

Our journey:In partnership with Habitat for Humanity of Huron Valley we convene the Financial Stability Coalition to facilitate collaboration, shared learning, resources and networking between agencies and businesses that all operate in the financial stability arena.

Our purpose:To advance the economic well being individuals and families with low to moderate incomes in Washtenaw County.

Our three main advocacy focus areas are:

1) Employment support

2) Support for vulnerable populations

3) Promoting savings and asset building

Our approach:We convene monthly to share information, feature educational topics and speakers, and work toward common goals to best serve our community. Utilizing research driven decision-making we participate in team based critical thinking action steps to reach our goals.

Resources/ Data

Action on Payday Lending

Payday lenders have targeted vulnerable Michigan communities, disproportionately locating their stores in communities of color, rural areas, and low-income neighborhoods, according to a new report from the Center for Responsible Lending. Through a business model designed to trap people facing economic hardship in long-term cycles of debt, payday lenders raked in $94 million in 2016 and more than $500 million in five years. Two thirds of Michigan payday loan stores have headquarters outside of the state.